Calgary, AB,
24
October
2016
|
17:22
America/Denver

Matco Development Corp. announces purchase of Westbrook Station Lands (former Ernest Manning School Site) from The City of Calgary

Calgary-based Matco Development Corp. (MDC) and The City of Calgary are pleased to announce Matco’s purchase of the Westbrook Station lands from The City of Calgary, a 10.00 acre land development site situated immediately above and surrounding Calgary’s first underground transit station located along the West LRT line. In late 2011, The City of Calgary publically invited requests for proposals for the acquisition and development of the Westbrook Station lands, comprised of four development parcels. After an evaluation of all proposals, strict criteria for the final selection were monitored by an external fairness advisor to ensure openness, fairness, consistency and transparency were maintained throughout the process.

The 8.2 km West LRT (Blue) Line opened to the public in late 2012 and currently serves 100,000 Calgarians. As part of Calgary’s growing Transit network, the Blue Line provides a rapid transit transportation link to Calgary’s west end communities, with Westbrook Station being an approximate 10-minute trip to the heart of Calgary’s downtown central business district. The project is part of the larger proposed Westbrook Village redevelopment, a 21 ha (52 ac) site that encompasses the area between Bow Trail and 17th Avenue SW, and 33rd and 37th Streets SW.

As a Matco development, the lands at Westbrook Station will become an outstanding example of mixed-use, transit oriented development (TOD) including an office, residential, retail/food and beverage areas, and community amenities (fitness centre, day care and community space). The buildings will be integrated with a strong public realm of urban plazas, public open space, pedestrian and cycling connectivity, and multi-modal transportation options. As a condition of the land purchase, Matco is also committed to provide a proportion of non-market housing which will be integrated into the residential unit mix.

Matco Development Corp. is a division of Matco Investments Ltd., a private Calgary-based investment firm, whose real estate interests include co-ownership in the twin tower Eighth Avenue Place (Canada’s first LEED Platinum high-rise AAA office building) and other mixed-use residential projects in inner city Calgary.

Sarah Quayle, Manager, Real Estate Sales & Marketing, Real Estate & Development Services (RE&DS) indicates, "Matco's proven ability to create and execute a redevelopment of this site made it the best candidate to support the City’s long-term Transit Orientated Development project at Westbrook Station. Matco demonstrated all the elements outlined in the RFP and The City’s vision for the Westbrook Village area.”

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More about The City of Calgary Real Estate & Development Services
Real Estate & Development Services is the development arm for The City of Calgary. RE&DS works to develop and sell City-owned land to create vibrant communities, attract diverse and quality employers and complete the acquisition of land needed for future infrastructure. For more information visit www.Calgary.ca/realestate

More about Matco
The Matco group of companies includes Matco Investments Ltd., a private Calgary-based investment firm with interests in real estate, oil and gas, and oil field services. Other affiliated entities within the Matco group include Matco Capital Ltd., a private investment firm, Matco Financial Inc., an investment counselling and asset management firm, and Matco Development Corp. For more information visit www.matcogroup.ca.